Sutro & Co., San Francisco, promoted Gary D. Vollen, a vice president of corporate finance in Los Angeles, to head the firm's Northern California investment banking operation. He is a specialist in technology financing. Sutro also hired a technology veteran, C.B. Lee, as a senior equity analyst and vice president in its research department. He will also be an analyst for Sutro's parent research organization, Hancock Institutional Equity Services. He was formerly with Needham & Co., New York, a technology investment bank where he specialized in networking equipment and electronic design automation.

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